Scottish IVA

What is a Scottish IVA?

Debt Calculator

If you have been looking online for debt solutions then you may have come across IVAs. However, IVAs are not available in Scotland. The Scottish equivalent to the IVA is known as a “Protected Trust Deed“, which, has a very similar function to the IVA by allowing the debtor to write off unaffordable debt. The Scottish Trust Deed is available to all Scottish residents – those who have been living in Scotland for at least six months. It may be a suitable solution for anyone struggling with insufficient disposable income to pay the amount owed each month to their creditors.

There are a number of debt solutions available to people in Scotland and to determine which is going to be the best in the long run for your situation, it’s a good idea to discuss it with one of our professional money advisers. You can use our “Debt Calculator” above to get a rough idea of what option might suit you, but speaking to an adviser will give you a definitive answer and usually doesn’t take long. The adviser will ask you for some basic details of what you owe and how much money you have coming in from employment and benefits each month. The adviser is then in a position to explain how each of the solutions might benefit you, whilst also explaining the negatives associated with each option. The initial advice does not take long and should leave you with a better idea of your options.

If you would like to know if a Trust Deed is the right option for you and we’ll be happy to help.